We begin by surveying the changing landscape of electricity grids: sensors such as PMUs, power electronics actuation such as FACTS devices, information technology, and control architectures. We introduce elements of energy economics with a focus on electricity markets including consumer and producer behavior. We then analyze the problems that deep renewable integration poses for grid operations and reliability. We explore the use of demand response from distributed resources (ex: flexible loads, storage, and electric vehicles) to enable cost-effective renewable integration. Tomorrow’s grid will have an intelligent periphery. We will explore the architectural and algorithmic components for managing this intelligent periphery for flexible load management. We then describe a vision for Grid2050 where the electricity delivery will evolve into interconnected micro-grids. Under this architecture, more power is generated and consumed locally.